19. Wisteria Inc.'s preferred stock sells for $85.00 per share, and it pays an $8.50 annual dividend. If the company were to sell new preferred stock, it would incur a flotation cost of 4.00% of the price paid by investors. What is Wisterias cost of preferred stock for use in calculating the WACC?

Group of answer choices

a. 8.75%

b. 12.81%

c. 11.35%

d. 8.44%

e. 10.42%